NuScale Power (NYSE:SMR) Raised to “Strong-Buy” at Texas Capital

NuScale Power (NYSE:SMR) was upgraded by equities researchers at Texas Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on SMR. Royal Bank Of Canada set a $21.00 price target on NuScale Power in a report on Tuesday, January 20th. Zacks Research lowered NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group decreased their price objective on NuScale Power from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, December 12th. Cantor Fitzgerald began coverage on NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.42.

NuScale Power Price Performance

NYSE SMR traded down $1.58 on Tuesday, reaching $18.90. The company had a trading volume of 7,230,818 shares, compared to its average volume of 31,594,570. The firm has a 50-day moving average of $18.51 and a 200-day moving average of $31.78. The firm has a market capitalization of $5.64 billion, a PE ratio of -6.62 and a beta of 2.12. NuScale Power has a 1 year low of $11.08 and a 1 year high of $57.42.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The firm had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The business’s quarterly revenue was up 1635.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) earnings per share. As a group, sell-side analysts expect that NuScale Power will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of NuScale Power stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $22.17, for a total transaction of $886,800.00. Following the transaction, the chief financial officer owned 46,283 shares in the company, valued at approximately $1,026,094.11. This trade represents a 46.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after acquiring an additional 1,346,796 shares during the period. Van ECK Associates Corp boosted its holdings in NuScale Power by 67.2% during the third quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock worth $190,362,000 after buying an additional 2,125,250 shares in the last quarter. Samsung C&T Corp grew its holdings in NuScale Power by 98.9% in the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after purchasing an additional 2,578,702 shares during the last quarter. Clear Street Group Inc. purchased a new stake in NuScale Power in the 3rd quarter valued at approximately $155,616,000. Finally, Geode Capital Management LLC raised its position in shares of NuScale Power by 25.2% in the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock valued at $112,944,000 after buying an additional 574,295 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.